Lease to Own
416 N Union Street Wilmington, DE
$ 225,000
Property Attributes
  • MLS#DENC496538
  • TypeCommercial
  • CountyNEW CASTLE
  • CityWilmington
  • AreaWilmington
  • Zip19805
  • StyleApartment Building,Day Care Facility,Convenience S
  • Year Built1918
  • Taxes734
  • Price$ 225,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage1000
  • Lot Size1,307 SqFt
Listing Provided Courtesy Of:
RE/MAX Associates-Newark
Property Description

Sale or Lease.... Be part of the Revitalization of N. Union St. in "Little Italy's" Restaurant Row, one of the Cities busiest and most traveled corridors's. This storefront is directly across from "The Flats" all new Construction being redeveloped by the Woodlawn Trustees with new Tenants arriving daily. Formerly a Wilmington landmark...Frankies Subs and Steaks, offers flexible and numerous mixed use opportunities, the Storefront space consists of a 33'x 13' front area with an Ansul Fire Protection system and a 7' Exhaust system in place, also a 13' x 10' prep area, unisex bathroom(all total approximately 1000 sq. ft.) and access to a full basement, perfect for additional storage and freezer space, etc. This space had just rented for $1000.00 per month.(triple Net) There is a well sized two bedroom apartment on the second floor with a Family Room and eat-in kitche, unit was recently remodeled, it features private entrance, separate utilities with Central Air, currently it is rented for $950.00 per month. with a one year Lease through 7/31/2021. Perfect opportunity to be an Owner/ Operator and quite possibly live upstairs. Many uses are applicable under current Zoning , and flexible terms are available, even possible Lease Purchase options, lets get creative.

Price History
3/4/2020 Listed $225,000

General Features

Acceptable Financing Cash, Lease Purchase, VA
Accessibility None, 2+ Access Exits
Business Type Apartment Building, Day Care Facility, Convenience Store/Gas, Hair Salon and Spa, Professional, Other
Construction Materials Brick, Copper Plumbing, Glass, Metal Siding
Cool Fuel Electric
Cooling Ceiling Fan(s), Heat Pump(s), Window Unit(s), Zoned
Electric Circuit Breakers
Exclusions personal property
Heating Baseboard - Hot Water
Legal Subdivision WILMINGTON
MLS Area Wilmington (30906)
New Construction No
Ownership Fee Simple
Possession Immediate
Price Per Sq Ft 1125.0
Property SubType Mixed Use
Property Type Commercial Sale
Real Estate Owned Y/N No
Sewer Public Sewer
Tax Year 2019
Vacation Rental Y/N No
Water Access Y/N No
Zoning 26C-2
Zoning Description Mixed use: Restaurant/ Bar/Tavern, Food MarketBarber/Beauty, Clothing/Retail, Convenience/Liquor storeProfessional Service

Interior Features

Central Air Y/N No
Heating Fuel Natural Gas, Electric
Heating Y/N Yes
Hot Water Natural Gas
Total Restrooms 1

Exterior Features

Building Area Total 200.00
Lot Dimensions 18.00 x 80.00
Lot Features Rear Yard
Lot Size Acres 0.03
Lot Size Source Assessor
Lot Size Square Feet 1307.00
Navigable Water Y/N No
Type of Parking On Street
Water Oriented Y/N No
Water Source Public
Water View Y/N No
Waterfront Y/N No


  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 19805

AVG $260K
AVG $1,621
AVG 38
Year Built
AVG 1933
AVG 79
Data Provided by Walkscore ® not using MLS data

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